Proprietary Portfolio — Direct & Funds

Direct Investments

We invest directly from our balance sheet in companies that are solving, at scale, a social or environmental problem. We look for a novel idea, founder conviction, financial discipline, and strong execution capabilities. We take a relatively sector-agnostic approach under this initiative and generally invest in growth-stage funding rounds led by institutional investors. Revenue should ideally be in scale-up mode with positive unit economics and a clear path to enterprise-level profitability. Our portfolio includes a rural and semi-urban focused MSME lender with over INR 9000 Crores in portfolio and more than 200k customers; a sustainable waste-to-energy company that acquires used food oil and converts this into biodiesel; a specialized non-banking finance company that lends to affordable private schools, school entrepreneurs, and the educational ecosystem.

Fund Investments

We take Limited Partner positions in funds that invest in impact sectors in India. We back fund managers — including first-time fund managers, with a preference for women fund managers. We look for a clear investment thesis, a proven investment track record, and demonstrated execution capabilities. We prefer to invest in the second closing and can consider a first close alongside an anchor investor. Our fund investments include an early-growth stage fund that invests in entrepreneurs building innovative companies in financial services and climate solutions; a fund that focused on early stage focused on solutions in education, skills and adjacent spaces; and a first-time manager that invests in disruptive tech companies transforming energy and industrial systems.